SINGAPORE (Oct 5): There was serious suspicion of Swiss banks being involved in alleged criminal activities linked to Malaysian state fund 1Malaysia Development Bhd (1MDB), Swiss Attorney General Michael Lauber said on Wednesday. "The analysis of all the financial documents brought up serious suspicion of the possible implication of Swiss banks in these alleged criminal activities and of an abuse of our financial place to deceive legitimate Malaysian sovereign funds," Lauber said at an event in Singapore. Lauber did not name the banks, but Swiss authorities have only formally launched a criminal probe against Swiss private bank BSI. Najib has denied any wrongdoing and said Malaysia will cooperate with the international investigations. (US$1 = 1.3740 Singapore dollars)

Source: The Edge Markets October 05, 2016 11:56 UTC